Fortis acquires 76 per cent in Australia's Capital Market Solutions
21 November 2007

Mumbai: Fortis Financial Services Ltd has acquired 76 per cent stake in Australia's Capital Market Solutions Pty Ltd (CMS) for an undisclosed sum.

Fortis made the acquisition through two special-purpose vehicles, Regius Infotech Pvt Ltd and Regius Overseas Holding Co, created specifically for this purpose, the company said.

CMS, incorporated under the laws of Australia, provides software services and solution to stockbrokers, investment banks and investment managers, Fortis said in a statement.

The company, meanwhile, announced that it has settled a suit filed against Fortis NV, a company registered under laws of the Netherlands. The same has been settled and now the company is authorised to use the word `Fortis` for all its activities except for its financial products and services.

Fortis is an international provider of banking and insurance services to individuals, business and institutional customers.

The company delivers a total package of financial products and services through its intermediaries and other partners.

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